GreenYellow and Lotte Mart partner to promote sustainable energy solutions in the retail sector
GreenYellow, leader in the decentralized energy transition, announces the signing of Leasing & Maintance Agreements in Vietnam with LOTTE Mart, a pioneering investor in the retail industry in Vietnam and a subsidiary of the Korean LOTTE Group.
The 22-year strategic partnership marks an important milestone in promoting sustainable energy solutions in the retail sector and strengthens GreenYellow’s position as a key energy partner for top retailers in Vietnam.
As part of the agreement, GreenYellow Vietnam will commission rooftop solar power plant of 4 LOTTE Mart stores, supporting the retailer’s commitment to sustainability and reducing its carbon footprint. This solar project, with an installed capacity of 2.66 MWp, will produce 3,600 GWh of clean, local energy in the first year, avoiding the emission of 2,436 tons of CO₂ each year.
The collaboration follows GreenYellow Vietnam’s successful partnerships with prominent retailers, including Mega Market and GO Mall, reinforcing its reputation as a trusted energy partner.
“Through our recent partnership with LOTTE Mart, a leading Korean retailer, GreenYellow consolidates its position as a key energy partner in the retail sector in Vietnam, and reinforces its commitment to sustainability and innovation alongside the top names in the industry,” says Yoan Guyon, Chief Commercial Officer of GreenYellow Vietnam.
In a recent statement, Mr. Nguyen Tat Tu Linh, Business Development Manager of this project, expressed his enthusiasm for this collaboration: “This partnership marks a turning point, and we are confident in its potential to pave the way for new synergies. Together, we aspire to create sustainable value that supports the growth of both our organizations. This commitment reflects our commitment to nurturing strong relationships and promoting shared success. »
Present in Vietnam since 2008 with the opening of LOTTE Mart Nam Sai Gon, LOTTE Mart has risen to the top 10 most reputable retailers in 2024, according to Vietnam Report. This partnership reflects its commitment to integrating sustainable practices into its operations, aims to improve its energy efficiency and promote a greener future through solar energy.
The installation of rooftop solar systems will allow LOTTE Mart to achieve significant energy savings, with both economic and environmental benefits. Once completed, the project will generate 3.6 GWh of clean energy annually, equivalent to the annual consumption of 600 average Vietnamese households, consisting of 4 people and each consuming about 6 MWh. As Vietnam increasingly prioritises renewable energy, this partnership is a major step towards a more sustainable and environmentally friendly retail sector.
